First, I want to thank these boards for all the information I've received from reading everyone's experiences. They have been invaluable. Thank you!
Second, a little about me. Through a job related (mandated) move, my husband and I went from two incomes to one in 2009. Short sold our home for fear of losing it, settled our crazy high credit cards with Bank of America, took the tax hit on both and are finally coming out from under it, all during another job related (mandated) move. In the end of all the crazy sacrifices, I've never been happier - except for the credit hits from our financial decisions and two untimely medical emergencies for a couple family members. We saved, bargain shopped with coupons, etc. and paid off as much as we could. This Spring my credit scores went from 630-650 to 740-750 by paying off the last of our medical bills, low limit (credit rebuilder) cards, and seeing inquiries drop off. I finally, after much consideration, decided to see if I would qualify for a better card.
So here is what I did:
Citi Thank You Preferred - No instant approval, had to call to verify information, still no decision, was told to call back in a few days. Called this evening to the automated app status and learned I was approved. No mention of limit.
Chase Sapphire Preferred - Instant Approval, had to call to get an AU for my husband and learned CL was $6000.
Cap1 Venture Card - Declined. Called to ask for PC from my two Cap1 $750limit (rebuilder) cards. Big fat NO.
Amex Delta Skymiles - Declined due to inquiries, called, no budge.
Chase SWA - No instant approval, called status line 3 hrs later, approved for $9000 (chose this since we fly on SWA a lot, will use the bonus for free flight)
I plan on closing my Cap1 cards and only keep my Target Card since it was opened in 2004 and is the oldest. I think Chase was favorable towards me because when we were going through our financial difficulties, I had two cards with them that I paid off each month in full, when things got rough I had a tough time paying. They worked with me, closed the accounts but gave me a 0% interest and a payment plan we could afford. I paid those cards off in January of 2012. I also have an auto loan through them that I have never missed a payment on.
I'm excited to finally be in a position to reap some rewards and our financial situation is looking up. We plan to use the Chase Sapphire for everyday expenses and pay it off every month. We were using the Cap1 cards for this but with no rewards and low CL - it just doesn't make sense anymore.
Starting Score: 675
Starting Score: 0